KUALA LUMPUR: Key Asian markets closed higher on Monday, March 21, with the FBM KLCI staying firmly above the key 1,500 level as investors heaved a sigh of relief after Japanese engineers took a major step in managing a nuclear crisis by connecting all six earthquake-damaged reactors to power supply.
However, concerns of the surge in oil prices curbed their appetite for riskier assets, as reflected in the lower trading volume after Western powers launched air strikes on Libya. The air strikes on Libya against Muammar Gaddafi's forces have renewed fears over supplies of crude oil from the Middle East, Reuters reported.
At the close, the FBM KLCI was up 4.99 points to close at 1,508.88, boosted by Genting, Tenaga, CIMB and MISC. Gainers led losers nearly three to one with 587 advancers to 200 decliners while 231 counters traded unchanged. Volume was 1.19 billion shares valued at RM1.44 billion.
Hong Kong's Hang Seng Index jumped 1.73% to 22,685.22, Singapore's Straits Times Index was up 1.63% to 2,983.51, South Korea's Kospi rose 1.13% to 2,003.42, Taiwan's Taiex gained 0.87% to 8,467.71 while the Shanghai Composite Index edged up 0.08% to 2,909.14. Japan's stock markets were closed for a national holiday.
At Bursa Malaysia, among the index-linked stocks, Genting climbed 30 sen to RM10.42, MISC 10 sen to RM7.94, Tenaga eight sen to RM6.28 and CIMB'' four sen to RM8.03.
Panasonic was the top gainer, adding 78 sen to RM20.84; BAT was up 58 sen to RM46.10, Nestle 54 sen to RM46, Aliran Ihsan Resources 32 sen to RM1.83.
Hong Leong Industries rose 23 sen to RM4.07, while F&N, DiGi and Mudajaya added 20 sen each to RM15.80, RM27.66 and RM4.80 respectively.
Timber-related stocks extended their gains on expectations of increase in demand coming from Japan, with Ta Ann up 27 sen to RM6, WTK and Subur Tiasa 15 sen each to RM1.73 and RM2.94, while Jaya Tiasa added six sen to RM5.50.
Stocks of Sarawak-based companies also advanced following the dissolution of the legislative assembly there to pave way for state elections. Cahya Mata Sarawak and Encorp added 10 sen each to RM2.69 and 91 sen, HSL four sen to RM1.81, while Zecon added 6.5 sen to 52.5 sen.
Decliners included United PLANTATION []s that fell 20 sen to RM16.60, IOI Corp nine sen each to RM5.69, AMMB eight sen to RM6.29, while Tafi, Scientex and Lion Industries fell seven sen each to 31 sen, RM2.57 and RM1.64 respectively.
HWGB was the most active with 52.8 million shares done. The stock added 9.5 sen to 63.5 sen. Other actives included Karambunai, SAAG, Tanco, Scomi, KUB, Olympia and Iris.
However, concerns of the surge in oil prices curbed their appetite for riskier assets, as reflected in the lower trading volume after Western powers launched air strikes on Libya. The air strikes on Libya against Muammar Gaddafi's forces have renewed fears over supplies of crude oil from the Middle East, Reuters reported.
At the close, the FBM KLCI was up 4.99 points to close at 1,508.88, boosted by Genting, Tenaga, CIMB and MISC. Gainers led losers nearly three to one with 587 advancers to 200 decliners while 231 counters traded unchanged. Volume was 1.19 billion shares valued at RM1.44 billion.
Hong Kong's Hang Seng Index jumped 1.73% to 22,685.22, Singapore's Straits Times Index was up 1.63% to 2,983.51, South Korea's Kospi rose 1.13% to 2,003.42, Taiwan's Taiex gained 0.87% to 8,467.71 while the Shanghai Composite Index edged up 0.08% to 2,909.14. Japan's stock markets were closed for a national holiday.
At Bursa Malaysia, among the index-linked stocks, Genting climbed 30 sen to RM10.42, MISC 10 sen to RM7.94, Tenaga eight sen to RM6.28 and CIMB'' four sen to RM8.03.
Panasonic was the top gainer, adding 78 sen to RM20.84; BAT was up 58 sen to RM46.10, Nestle 54 sen to RM46, Aliran Ihsan Resources 32 sen to RM1.83.
Hong Leong Industries rose 23 sen to RM4.07, while F&N, DiGi and Mudajaya added 20 sen each to RM15.80, RM27.66 and RM4.80 respectively.
Timber-related stocks extended their gains on expectations of increase in demand coming from Japan, with Ta Ann up 27 sen to RM6, WTK and Subur Tiasa 15 sen each to RM1.73 and RM2.94, while Jaya Tiasa added six sen to RM5.50.
Stocks of Sarawak-based companies also advanced following the dissolution of the legislative assembly there to pave way for state elections. Cahya Mata Sarawak and Encorp added 10 sen each to RM2.69 and 91 sen, HSL four sen to RM1.81, while Zecon added 6.5 sen to 52.5 sen.
Decliners included United PLANTATION []s that fell 20 sen to RM16.60, IOI Corp nine sen each to RM5.69, AMMB eight sen to RM6.29, while Tafi, Scientex and Lion Industries fell seven sen each to 31 sen, RM2.57 and RM1.64 respectively.
HWGB was the most active with 52.8 million shares done. The stock added 9.5 sen to 63.5 sen. Other actives included Karambunai, SAAG, Tanco, Scomi, KUB, Olympia and Iris.
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